Building wealth is only half the battle; retaining and growing it over time requires strategic planning. Whether you have accumulated wealth through business, investments, or inheritance, the right strategies can help you protect your assets for future generations.
Diversification and Risk Management
One of the cornerstones of wealth retention is diversification. Over-concentration in a single asset class exposes your wealth to unnecessary risk. By spreading investments across different sectors, geographies, and asset types, you can reduce volatility and enhance long-term stability.
Risk management also involves regular portfolio reviews. As markets fluctuate and personal circumstances evolve, it is crucial to reassess your investment strategy. An effective risk management plan adapts to these changes while keeping your long-term goals in focus.
Tax Efficiency and Legal Protection
Tax planning plays a significant role in wealth retention. Without proper strategies, tax liabilities can erode your wealth over time. Utilising allowances, reliefs, and tax efficient structures like trusts can minimise tax exposure.
Legal protection is equally important. Comprehensive estate planning, including wills and powers of attorney, ensures your assets are distributed according to your wishes. Regular updates to these documents help prevent disputes and delays in asset transfers.
Succession Planning and Generational Wealth
Succession planning involves preparing the next generation to manage and grow the family wealth. Education and mentorship are vital components. By involving heirs in financial decision-making early on, you help them develop the skills and knowledge needed to continue your legacy.
CHW director Gary Beesley says: “Financial decisions for people can be a very private matter, we have couples who like to keep their finances separate and we will always work to the clients requests on this matter. However, it might be something to think about, certainly later in life to involve family members in the discussions to ensure that your legacy can continue.”
Professional Guidance
At CHW Wealth Management, we offer holistic solutions to protect your wealth. Our team of experts works closely with you to develop tailored strategies that address investment, tax, legal, and succession planning needs. With the right guidance, you can preserve your wealth and achieve lasting financial security for your family.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value ofcany tax relief is dependent on individual circumstances.
Will writing and Powers of Attorney involve the referral to a service that is separate and distinct to those offered by St. James’s Place and are not regulated by the Financial Conduct Authority.
For further information about us or If you feel you would benefit from talking to one of our experts please visit www.chwwealth.co.uk [chwwealth.co.uk] or email gary.beesley@sjpp.co.uk
CHW Wealth Management Limited is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group’s wealth management products and services, more details of which are set out on the group’s website https://www.sjp.co.uk/products. The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.
SJP approved 11/02/2025.
